Bakkt is another good platform trading day. The Bitcoin futures contracts, which disappointed many in the first launch, have reached another historical maximum in the volume of daily operations, which has closed well.
Bakkt's trading volume is increasing, while Bitcoin has registered a significant price drop. The number one digital asset has lost about 4.3 percent of its value in the last hour.
Is institutional interest in Bitcoin booming, or do traders simply love volatility?
After a disappointing start, the daily trading volume of Bitcoin futures physically established by Bakkt increasing lately. Already today, the scenario has established another high volume of all time, with too many operations remaining in the session.
With approximately half of the daily session, so far 1,282 Bitcoin futures contracts have negotiated to represent $11,220,705. The previous All-Time High generated a turnover of $10.3 million on October 25. On November 5 there was another excellent trading day on the platform supported by ICE, registering a volume of approximately $10 million.
Of course, given the expectations of the daily trading volumes of many more cryptocurrency exchanges, these figures are still relatively low. However, when the platform was launched, there was not a single daily session in which contracts for more than $2 million negotiated. The recently reported figures have been consistently higher.
Many expected the launch of Bakkt to be more dramatic than that.
Stories of a growing institutional demand were disclosed, full of delays in its actual launch, so that the prospect of an opening day of billions of dollars and an immediate doubling of the price of Bitcoin could still disappoint even the most optimistic. When it finally got underway, none of this happened.
Interestingly, Bakkt's most successful trading session took place in a single day, in which the price of Bitcoin increased dramatically. Another great day of negotiation on October 25, the opposite happened after a great movement. These days there is no possibility of coincidence of peaks of interest.
Since Bakkt is still new and many accredited investors, which allow it to negotiate futures contracts, remain unfavorable for the Bitcoin trade for one reason or another. This gives figures that When negotiating, they will be for lack of a better phrase, crazy action.
Types of merchants are welcome when it comes to dividing their cash in traditional markets. There is no shortage of options to receive cubes. However, he decided to enter the most volatile market on the planet. Why Due to the type of volatility a property sees. It loses 4.3 percent as Bitcoin does today or 20 percent. As it did in previous days, encouraging them. Therefore, there is a possibility that Bakkt's volume will continue to increase during the most volatile days for the Bitcoin market.
[…] Bitcoin has experienced turbulent price action over the past few days and weeks. Which has led cryptocurrencies like Litecoin to establish a broader commercial range. However, this volatility has generally been positive, since most cryptos, including LTC, are quoted at their monthly lows. […]
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